Entry Requirements to Professional Accounting Education Programs (Revised)
|
|
- Cory Hill
- 7 years ago
- Views:
Transcription
1 IFAC Board Final Pronouncement February Exposure 2013 Draft October 2011 Comments due: February 29, 2012 International Education Standard (IES) 1 Entry Requirements to Professional Accounting Education Programs (Revised) NOTE: The IAESB s work on the IES Revision project is ongoing and IESs 2, 3, 4, and 8 have not been finalized. The revised IES 1 has been released to provide lead time for IFAC member bodies and other interested stakeholders to prepare for its implementation. The IES Revision project is scheduled to be completed by the end of 2013.
2 This document was developed and approved by the International Accounting Education Standards Board (IAESB). The IAESB develops education standards, guidance, and information papers on pre-qualification education, training of professional accountants, and continuing professional education and development. The objective of the IAESB is to serve the public interest by setting high-quality education standards for professional accountants and by facilitating the convergence of international and national education standards. The structures and processes that support the operations of the IAESB are facilitated by the International Federation of Accountants (IFAC). Copyright February 2013 by the International Federation of Accountants (IFAC). For copyright, trademark, and permissions information, please see page 8.
3 INTERNATIONAL EDUCATION STANDARD 1 (REVISED) (EFFECTIVE ON JULY 1, 2014) NOTE: The IAESB s work on the IES Revision project is ongoing and IESs 2, 3, 4, and 8 have not been finalized. The revised IES 1 has been released to provide lead time for IFAC member bodies and other interested stakeholders to prepare for its implementation. The IES Revision project is scheduled to be completed by the end of ENTRY REQUIREMENTS TO PROFESSIONAL ACCOUNTING EDUCATION PROGRAMS CONTENTS Paragraph Introduction Scope of this Standard Effective Date... 6 Objective... 7 Requirements Explanatory Material Scope of this Standard... Objective... Requirements... A1 A3 A4 A6 A7 A12
4 INTERNATIONAL EDUCATION STANDARD 1 ENTRY REQUIREMENTS TO PROFESSIONAL ACCOUNTING EDUCATION PROGRAMS (REVISED) Introduction Scope of this Standard (Ref Para A1 - A3) 1. This International Education Standard (IES) prescribes the principles to be used when setting and communicating educational requirements for entry to professional accounting education programs, while requirements relating to entry to the profession are covered by: (a) (b) (c) (d) (e) IES 2, Initial Professional Development Technical Competence, IES 3, Initial Professional Development Professional Skills, IES 4, Initial Professional Development Professional Values, Ethics, and Attitudes, IES 5, Initial Professional Development Practical Experience, and IES 6, Initial Professional Development Assessment of Professional Competence. 2. This IES is addressed to IFAC member bodies. IFAC member bodies have responsibility for setting and communicating entry requirements for professional accounting education programs. In addition, this IES will be helpful to educational organizations, employers, regulators, government authorities, and any other stakeholders who deliver and support delivery of professional accounting education programs. 3. This IES explains the principle of allowing flexible access to professional accounting education programs under the auspices of an IFAC member body, while ensuring that aspiring professional accountants have a reasonable chance of successful completion of professional accounting education programs. This IES explains (a) reasonable chance of successful completion, (b) the suitability of entry requirements, and (c) different forms of entry requirements. 4. This IES recognizes that entry requirements may vary by jurisdiction, due to (a) different pathways through professional accounting education programs, and (b) differences between various jurisdictions in governance and regulatory arrangements. This IES also recognizes that completion of a full, professional qualification is just one of a range of exit points from a professional accounting education program. 5. The definitions and explanations of the key terms used in the IESs and the Framework for International Education Standards for Professional Accountants are set out in the International Accounting Education Standards Board (IAESB) Glossary of Terms. Effective date 6. This IES is effective from July 1, Objective (Ref Para A4 - A6) 7. The objective of an IFAC member body is to establish fair and proportionate educational entry requirements to professional accounting education programs that protect the public interest through the setting and maintenance of high-quality standards. 4
5 INTERNATIONAL EDUCATION STANDARD 1 ENTRY REQUIREMENTS TO PROFESSIONAL ACCOUNTING EDUCATION PROGRAMS (REVISED) Requirements (Ref Para A7 - A12) 8. IFAC member bodies shall specify educational entry requirements for professional accounting education programs that will allow entrance only to those with a reasonable chance of successfully completing the professional accounting education program, while not representing excessive barriers to entry. 9. IFAC member bodies shall explain the rationale for the principles to be used when setting educational entry requirements to stakeholders, including relevant education providers and individuals considering a career as a professional accountant. 10. IFAC member bodies shall make relevant information publicly available to help individuals assess their own chances of successfully completing a professional accounting education program. Explanatory Material Scope of this Standard (Ref Para 1 5) A1. Professional accounting education programs are designed to support aspiring professional accountants to develop the appropriate professional competence by the end of Initial Professional Development (IPD). They may consist of formal education delivered through degrees and courses offered by universities, other higher education providers, IFAC member bodies, and employers, as well as workplace training. The design of professional accounting education programs during IPD may therefore involve substantive input from stakeholders other than IFAC member bodies. A2. IFAC member bodies have varying levels of control over entry requirements to professional accounting education programs. For example, in some jurisdictions entry requirements may be set by universities or governments. There are various pathways into the accountancy profession. For example, (a) traditional degree level entry, (b) gaining experience by working in industry, and (c) entry from the secondary education level. Moreover, different jurisdictions and IFAC member bodies will have different labor market challenges. A3. There are a number of steps an IFAC member body may take to seek to meet its membership obligations. For example, this might be illustrated by a situation where a university rather than the IFAC member body sets entry requirements to a professional accounting education program. Here, the IFAC member body might work with the university to explain the purpose of the IES, and communicate that compliance with its requirements would enable students more easily to be considered for membership in the IFAC member body. Objective (Ref Para 7) A4. All IESs are designed to protect the public interest. This IES does this by dealing with entry requirements to professional accounting education programs, which are important to help individuals considering a career as a professional accountant make informed decisions about their education choices. These entry requirements also provide that access to professional accounting education programs is limited to those likely to succeed. Entry to the accounting profession is safeguarded by IESs 2, 3, 4, 5, and 6, which cover technical competence, professional skills, professional values, ethics, and attitudes, practical experience, and assessment, and which are designed to ensure that members of the accountancy profession achieve an appropriate level of professional competence. 5
6 INTERNATIONAL EDUCATION STANDARD 1 ENTRY REQUIREMENTS TO PROFESSIONAL ACCOUNTING EDUCATION PROGRAMS (REVISED) A5. This IES serves the public interest by addressing issues relating to the provision of sufficient numbers of high-quality aspiring professional accountants. It does this by setting out principles for entry requirements for professional accounting education programs that are neither too high (causing unnecessary barriers to entry to the profession), nor too low (causing individuals to believe falsely they have a likelihood of completing the education successfully). Such entry requirements may help with the efficient use of resources and assist individuals considering a career as a professional accountant to make informed career decisions. A6. IFAC member bodies can contribute to efficient and effective career decisions by informing individuals considering a career as a professional accountant of the technical competence, professional skills, and professional values, ethics, and attitudes expected of those successfully completing professional accounting education programs. Individuals are only able to make informed decisions when provided with the necessary information. IFAC member bodies may collect and analyze the data on an ongoing basis so that advice to individuals considering a career as a professional accountant can be based on reliable information. The information to be provided by IFAC member bodies may cover: (a) (b) (c) (d) (e) Varying entry points to professional accounting education programs; Encouraging individuals considering a career as a professional accountant to commence a professional accounting education program only when they have considered their chances of successful completion; Pass rates relating to the qualification; Transparent information regarding the expectations and costs associated with professional accounting education programs; and Self-diagnostic tools such as competency maps setting out the skills, knowledge, and attitudes to be acquired on successful completion of the professional accounting education program. Requirements (Ref Para 8-10) A7. Determining a reasonable chance of successful completion is a matter of judgment, depending on number of factors. The intention is to (a) help individuals considering a career as professional accountant be as fully informed as possible when deciding to embark on professional accounting education programs, and to (b) encourage those providing professional accounting education programs to share as much helpful and relevant information as possible. The phrase may be understood differently by each IFAC member body as regards different professional accounting education programs. IFAC member bodies may set out the key factors for reasonable chance of successful completion, such that the entry requirements for any professional accounting education program provide individuals considering a career as a professional accountant with the necessary foundations to enable them to develop the required competence of a professional accountant. This may involve taking into account factors such as (a) the economic, business, and regulatory environment, (b) the prerequisite knowledge required, (c) the expected learning to be acquired, (d) the role of the accountant, and (e) any other relevant factors. A8. The entry requirements may be justified with reference to the technical competence, professional skills, and professional values, ethics, and attitudes needed to successfully complete a professional accounting education program. This does not preclude requiring a university degree, or the 6
7 INTERNATIONAL EDUCATION STANDARD 1 ENTRY REQUIREMENTS TO PROFESSIONAL ACCOUNTING EDUCATION PROGRAMS (REVISED) qualifications needed to commence a university degree. When setting entry requirements, the IFAC member body may consider whether they are appropriate in each case, and are neither excessive nor trivial. An excessive barrier to entry may include prescribing specific subject qualifications from certain institutions, or a minimum length of specific work experience. The purpose of avoiding such excessive barriers is to allow flexibility of access to professional accounting education programs, not to dilute standards either of professional accounting education programs themselves or of the accounting profession. Rather, there is a range of entry and exit routes for professional accounting education programs, and different ways of achieving IPD. A9. IFAC member bodies may adopt different entry requirements, because professional accounting education programs vary by jurisdiction and type. For example, some professional accounting education programs may have as entry requirements only a good level of numeracy and literacy. Conversely, the entry requirements of professional accounting education programs for certain specialized roles may specify that an individual must hold a university degree or equivalent. A10. Aspiring professional accountants may have developed their (a) technical competence, (b) professional skills, and (c) professional values, ethics, and attitudes through various pathways, including work experience, study, or qualifications. The flexibility of pathways to professional accounting education programs in no way dilutes the rigor of that education, nor of the standards required of aspiring professional accountants to complete IPD. IFAC member bodies may reflect these different pathways by adopting flexible entry requirements that accommodate all those with a reasonable chance of successfully completing a professional accounting education program. The purpose of this flexibility is to allow broad access to professional accounting education programs; it is not intended to create different categories of professional accountant. An example of this flexibility can be found where an IFAC member body specifies a prequalification entry requirement (e.g., a university degree or equivalent), but allows direct entrance to its professional accounting education program for those without a university degree if they have, for example, a period of relevant practical experience. A11. An IFAC member body may prescribe specific criteria used to determine that individuals meet the entry requirements to a professional accounting education program. These may include qualifications, courses, entry tests, or experience. Entry requirements may include the assessment of one (or a combination) of qualifications, experience, or other requirements deemed appropriate by the IFAC member body. This information could be made widely available by, for example, publishing it in the brochures for professional accounting education programs; or by including it on the website of the IFAC member body. A12. IFAC member bodies can help individuals considering a career as a professional accountant consider their chances of successfully completing a professional accounting education program by encouraging them to consider the content covered, its level, and methods of assessment of the program. 7
8 International Education Standards, Exposure Drafts, Consultation Papers, and other IAESB publications are published by, and copyright of, IFAC. The IAESB and IFAC do not accept responsibility for loss caused to any person who acts or refrains from acting in reliance on the material in this publication, whether such loss is caused by negligence or otherwise. The IAESB logo, International Accounting Education Standards Board, IAESB, International Education Standards, IES, the IFAC logo, International Federation of Accountants, and IFAC are trademarks and service marks of IFAC. Copyright February 2013 by the International Federation of Accountants (IFAC). All rights reserved. Permission is granted to make copies of this work provided that such copies are for use in academic classrooms or for personal use and are not sold or disseminated and provided that each copy bears the following credit line: Copyright February 2013 by the International Federation of Accountants (IFAC). All rights reserved. Used with permission of IFAC. Contact for permission to reproduce, store or transmit this document. Otherwise, written permission from IFAC is required to reproduce, store, transmit, or make other similar uses of this document, except as permitted by law. Contact ISBN: Published by:
9
IFAC Board Exposure Draft December 2015 Comments due: March 15, 2015
IFAC Board Exposure Draft December 2015 Comments due: March 15, 2015 Proposed Drafting Changes to International Education Standards, Framework for International Education Standards for Professional Accountants
More informationInitial Professional Development Technical Competence (Revised)
IFAC Board Exposure Draft July 2012 Comments due: November 1, 2012 Proposed International Education Standard (IES) 2 Initial Professional Development Technical Competence (Revised) COPYRIGHT, TRADEMARK,
More informationInitial Professional Development - Professional Values, Ethics, and Attitudes (Revised)
IFAC Board Exposure Draft July 2012 Comments due: October 11, 2012 Proposed International Education Standard (IES) 4 Initial Professional Development - Professional Values, Ethics, and Attitudes (Revised)
More informationIAESB STAFF QUESTIONS & ANSWERS July 7, 2015. Staff Questions and Answers on the Implementation of a Learning Outcomes Approach
IAESB STAFF QUESTIONS & ANSWERS July 7, 2015 Staff Questions and Answers on the Implementation of a Learning Outcomes Approach This Staff Questions and Answers on Implementation of a Learning Outcomes
More informationProfessional Development for Engagement Partners Responsible for Audits of Financial Statements (Revised)
IFAC Board Exposure Draft August 2012 Comments due: December 11, 2012 Proposed International Education Standard (IES) 8 Professional Development for Engagement Partners Responsible for Audits of Financial
More informationPreface No changes of substance have been made in the Framework, Introduction or the IESs.
International Accounting Education Standards Board International Federation of Accountants 545 Fifth Avenue, 14th Floor New York, New York 10017 USA E-mail: educationpubs@ifac.org Website: http://www.ifac.org
More informationSTAFF QUESTIONS AND ANSWERS
STAFF QUESTIONS AND ANSWERS APPLYING ISQC 1 PROPORTIONATELY WITH THE NATURE AND SIZE OF A FIRM This Questions & Answers (Q&A) publication is issued by staff of the International Auditing and Assurance
More informationChange to the Definition of Engagement Team in the Code of Ethics for Professional Accountants
IFAC Board Basis for Conclusions Exposure Draft Prepared by the Staff of the IESBA October 2011 March 2013 Comments due: February 29, 2012 International Ethics Standards Board for Accountants Change to
More informationInternational Education Standards 1-8
International Accounting Education Standards Board August 2008 International Accounting Education Standards Board International Education Standards 1-8 International Accounting Education Standards Board
More informationProposed Framework for International Education Standards for Professional Accountants
International Accounting Education Standards Board Exposure Draft January 2009 Proposed Framework for International Education Standards for Professional Accountants REQUEST FOR COMMENTS The International
More informationPolicy for Reproducing, or Translating and Reproducing, Publications of the International Federation of Accountants
Policy Statement May 2015 International Federation of Accountants Policy for Reproducing, or Translating and Reproducing, Publications of the International Federation of Accountants This document was developed
More informationINTERNATIONAL EDUCATION STANDARDS FOR PROFESSIONAL ACCOUNTANTS
INTERNATIONAL EDUCATION STANDARDS FOR PROFESSIONAL ACCOUNTANTS Assist.prof. Aleksandar Kostadinovski Ph.D., Assist.prof. Janka Dimitrova Ph.D., Assist.prof. Vesna Georgieva Svrtinov Ph.D. Faculty of Economics,
More informationContinuing Professional Development: A Program of Lifelong Learning and Continuing Development of Professional Competence
Education Committee IES 7 May 2004 International Education Standard for Professional Accountants 7 Continuing Professional Development: A Program of Lifelong Learning and Continuing Development of Professional
More informationDRAFT COPY. Good Practice Guide: The Education, Training, and Development of Accounting Technicians. IFAC Developing Nations Committee
IFAC Developing Nations Committee Agenda Item 8.2 December 2008 DRAFT COPY Good Practice Guide: The Education, Training, and Development of Accounting Technicians IFAC Developing Nations Committee International
More informationApproaches to Developing and Maintaining Professional Values, Ethics, and Attitudes
International Accounting Education Standards Board IEPS 1 October 2007 International Education Practice Statement 1 Approaches to Developing and Maintaining Professional Values, Ethics, and Attitudes International
More informationLearning Outcomes Implementation Guidance - Revised Staff Questions & Answers Document
Committee: International Accounting Education Standards Board Meeting Location: IFAC Headquarters, New York, USA Meeting Date: November 4 6, 2015 SUBJECT: Learning Outcomes Implementation Guidance - Revised
More informationA Guide for National Standard Setters that Adopt IAASB s International Standards but Find It Necessary to Make Limited Modifications
International Auditing and Assurance Standards Board Policy Position July 2006 Modifications to International Standards of the International Auditing and Assurance Standards Board (IAASB) A Guide for National
More informationISSAI 1705. Modifications to the Opinion in the Independent Auditor s Report. Financial Audit Guideline
The International Standards of Supreme Audit Institutions, ISSAI, are issued by the International Organization of Supreme Audit Institutions, INTOSAI. For more information visit www.issai.org. Financial
More informationISSAI 1300. Planning an Audit of Financial Statements. Financial Audit Guideline
The International Standards of Supreme Audit Institutions, ISSAI, are issued by the International Organization of Supreme Audit Institutions, INTOSAI. For more information visit www.issai.org. Financial
More informationSeptember 2015. IFAC Member Compliance Program Strategy, 2016 2018
September 2015 IFAC Member Compliance Program Strategy, 2016 2018 This Strategy is issued by the International Federation of Accountants (IFAC ) with the advice and oversight of the Compliance Advisory
More informationProposed Consequential and Conforming Amendments to Other ISAs
IFAC Board Exposure Draft November 2012 Comments due: March 14, 2013, 2013 International Standard on Auditing (ISA) 720 (Revised) The Auditor s Responsibilities Relating to Other Information in Documents
More informationInternational Education Standards Establishing the Proficiency of Accounting Professionals
International Education Standards Establishing the Proficiency of Accounting Professionals prof. Radosław Ignatowski Head of International Accounting Unit Department of Accounting Management Faculty University
More informationPractical Experience Requirements Initial Professional Development for Professional Accountants
International Accounting Education Standards Board AGENDA ITEM 2-3 Revised Draft of IEPS(Clean Version) Proposed International Education Practice Statement Practical Experience Requirements Initial Professional
More informationBACKGROUND NOTE ON ACTION PLANS
BACKGROUND NOTE ON ACTION PLANS SMO Action Plans are developed by IFAC Members and Associates to demonstrate fulfillment of IFAC Statements of Membership Obligations (SMOs). SMOs require IFAC Members and
More informationStrategy for 2015 2019: Fulfilling Our Public Interest Mandate in an Evolving World
The IAASB s Strategy for 2015 2019 December 2014 International Auditing and Assurance Standards Board Strategy for 2015 2019: Fulfilling Our Public Interest Mandate in an Evolving World This document was
More informationThe Auditor's Responsibilities Relating to Other Information
Exposure Draft April 2014 Comments due: July 18, 2014 Proposed International Standard on Auditing (ISA) 720 (Revised) The Auditor's Responsibilities Relating to Other Information Proposed Consequential
More informationInternational Federation of Accountants 545 Fifth Avenue, 14 th Floor New York, New York 10017 USA
International Federation of Accountants 545 Fifth Avenue, 14 th Floor New York, New York 10017 USA This publication was prepared by the International Federation of Accountants (IFAC). Its mission is to
More informationIntergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR)
Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR) 30th SESSION 6-8 November 2013 Room XVIII, Palais des Nations, Geneva Thursday, 7 November 2013
More informationInternational Education Standards for Professional Accountants
IFAC Education International Education Standards for Professional Accountants IES 1 6 October 2003 Committee International Education Standards for Professional Accountants Issued by the International Federation
More informationGuide to Practice Management for Small- and Medium-Sized Practices. User Guide
Guide to Practice Management for Small- and Medium-Sized Practices User Guide Small and Medium Practices Committee International Federation of Accountants 545 Fifth Avenue, 14th Floor New York, New York
More informationCompetence Requirements for Audit Professionals
Education Committee Exposure Draft April 2005 Comments are requested by July 15, 2005 Proposed International Education Standard for Professional Accountants Competence Requirements for Audit Professionals
More informationHigher Business Management Course Specification (C710 76)
Higher Business Management Course Specification (C710 76) Valid from August 2014 First edition: April 2014, version 1.1 Revised edition: September 2014, version 1.2 This specification may be reproduced
More informationWork Plan for 2015 2016: Enhancing Audit Quality and Preparing for the Future. The IAASB s Work Plan for 2015 2016 December 2014
The IAASB s Work Plan for 2015 2016 December 2014 International Auditing and Assurance Standards Board Work Plan for 2015 2016: Enhancing Audit Quality and Preparing for the Future This document was developed
More informationISAE 3000 (Revised), Assurance Engagements Other Than Audits or Reviews of Historical Financial Information
International Auditing and Assurance Standards Board Exposure Draft April 2011 Comments requested by September 1, 2011 Proposed International Standard on Assurance Engagements (ISAE) ISAE 3000 (Revised),
More informationISA 620, Using the Work of an Auditor s Expert. Proposed ISA 500 (Redrafted), Considering the Relevance and Reliability of Audit Evidence
International Auditing and Assurance Standards Board Exposure Draft October 2007 Comments are requested by February 15, 2008 Proposed Revised and Redrafted International Standard on Auditing ISA 620, Using
More informationTHE INTERNATIONAL FEDERATION OF ACCOUNTANTS
THE INTERNATIONAL FEDERATION OF ACCOUNTANTS Building Strong and Sustainable Organizations, Financial Markets, and Economies International Federation of Accountants WHAT IS IFAC? The International Federation
More informationISA 200, Overall Objective of the Independent Auditor, and the Conduct of an Audit in Accordance with International Standards on Auditing
International Auditing and Assurance Standards Board Exposure Draft April 2007 Comments are requested by September 15, 2007 Proposed Revised and Redrafted International Standard on Auditing ISA 200, Overall
More informationIFAC EDUCATION COMMITTEE FRAMEWORK FOR INTERNATIONAL EDUCATION STATEMENTS CONTENTS
FRAMEWORK FOR INTERNATIONAL EDUCATION STATEMENTS IFAC EDUCATION COMMITTEE FRAMEWORK FOR INTERNATIONAL EDUCATION STATEMENTS CONTENTS PAGE INTRODUCTION.......................................... 2 OBJECTIVES
More informationISRE 2400 (Revised), Engagements to Review Historical Financial Statements
International Auditing and Assurance Standards Board Exposure Draft January 2011 Comments requested by May 20, 2011 Proposed International Standard on Review Engagements ISRE 2400 (Revised), Engagements
More informationInternational Federation of. June 2005. Accountants. Ethics Committee. Code of Ethics for Professional. Accountants
International Federation of Accountants Ethics Committee June 2005 Code of Ethics for Professional Accountants Mission of the International Federation of Accountants (IFAC) To serve the public interest,
More informationINSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF RWANDA (ICPAR)
From: To: Subject: INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF RWANDA INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF RWANDA (ICPAR) PO Box 3213 Kigali Tel. +250784103930; Email: icparwanda@gmail.com ICPAR
More informationESTABLISHING AND DEVELOPING A PROFESSIONAL ACCOUNTANCY BODY
ESTABLISHING AND DEVELOPING A PROFESSIONAL ACCOUNTANCY BODY The mission of the International Federation of Accountants (IFAC) is to serve the public interest, strengthen the accountancy profession worldwide
More informationSeptember 20-21, 2012, beginning 8:30am.
Committee: IAESB Consultative Advisory Group Meeting Location: Grand Hyatt Hotel, New York, USA Meeting Date: September 20-21, 2012, beginning 8:30am. SUBJECT: IAESB-AACSB Collaboration (09/12) INTRODUCTION
More informationBackground. Audit Quality and Public Interest vs. Cost
Basis for Conclusions: ISA 600 (Revised and Redrafted), Special Considerations Audits of Group Financial Statements (Including the Work of Component Auditors) Prepared by the Staff of the International
More informationResponse to the IFAC Part 2, SMO Self-Assessment Questionnaire
Response to the IFAC Part 2, SMO Self-Assessment Questionnaire Member Name: Country: Published Date: September 2006 Disclaimer: Please refer to the Disclaimer published on IFAC s website about this assessment.
More informationISSAI 1501. Audit Evidence Specific Considerations for Selected Items. Financial Audit Guideline
The International Standards of Supreme Audit Institutions, ISSAI, are issued by the International Organization of Supreme Audit Institutions, INTOSAI. For more information visit www.issai.org. Financial
More informationFinancial Statement Discussion and Analysis
IPSASB Exposure Draft (ED) 47 March 2012 Comments due: July 31, 2012 Proposed International Public Sector Accounting Standard Financial Statement Discussion and Analysis The International Public Sector
More informationInvestments in Associates and Joint Ventures
IFAC Board Exposure Draft 50 October 2013 Comments due: February 28, 2014 Proposed International Public Sector Accounting Standard Investments in Associates and Joint Ventures This Exposure Draft 50, Investments
More informationCode of Ethics for Professional Accountants
International Ethics Standards Board for Accountants June 2005 Revised July 2006 Code of Ethics for Professional Accountants 1 International Ethics Standards Board for Accountants International Federation
More informationIFAC Education Committee Meeting Agenda 8-D Stockholm, August 2004
INTERNATIONAL FEDERATION OF ACCOUNTANTS 545 Fifth Avenue, 14th Floor Tel: +1 (212) 286-9344 New York, New York 10017 Fax: +1 (212) 856-9420 Internet: http://www.ifac.org Agenda Item 8-D November 1992 Professional
More informationGuidance for Small and Medium Practitioners on the Code of Ethics for Professional Accountants
EC 1 Revised November 2013 May 2015 Ethics Circular 1 Guidance for Small and Medium Practitioners on the Code of Ethics for Professional Accountants This revised Ethics Circular 1 was endorsed by the Institute's
More informationDeveloping and Reporting Supplementary Financial Measures Definition, Principles, and Disclosures
IFAC Board Exposure Draft February 2014 Professional Accountants in Business Committee International Good Practice Guidance Developing and Reporting Supplementary Financial Measures Definition, Principles,
More informationMULTILATERAL TRADE NEGOTIATIONS THE URUGUAY ROUND
MULTILATERAL TRADE NEGOTIATIONS THE URUGUAY ROUND RESTRICTED MTN.GNS/PROF/W/2 2 October 1990 Special Distribution Group of Negotiations on Services Original: English Working Group on Professional Services
More informationAddressing Disclosures in the Audit of Financial Statements
Exposure Draft May 2014 Comments due: September 11, 2014 Proposed Changes to the International Standards on Auditing (ISAs) Addressing Disclosures in the Audit of Financial Statements This Exposure Draft
More informationIGN G1 INSOLVENCY GUIDANCE NOTE. Minimum Standards of Practice for Insolvency Practitioners
IGN G1 INSOLVENCY GUIDANCE NOTE Minimum Standards of Practice for Insolvency Practitioners November 2009 TABLE OF CONTENTS FOREWORD Paragraphs Introduction.. 1-3 Definitions.4 Practice Organisation.5 Ethics.
More informationAction Plan Developed By Federation of Accounting Professions (FAP) BACKGROUND NOTE ON ACTION PLANS
Action Plan Developed By Federation of Accounting Professions (FAP) BACKGROUND NOTE ON ACTION PLANS Action Plans are developed by IFAC members and associates to address policy matters identified through
More informationCompetent and Versatile: Q&A for Smaller Organizations and the Accountants That Serve Them
Professional Accountants in Business Committee October 2010 Questions and Answers Competent and Versatile: Q&A for Smaller Organizations and the Accountants That Serve Them Professional Accountants in
More informationINTERNATIONAL STANDARD ON AUDITING 800 SPECIAL CONSIDERATIONS AUDITS OF FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH SPECIAL PURPOSE FRAMEWORKS
INTERNATIONAL STANDARD ON AUDITING 800 SPECIAL CONSIDERATIONS AUDITS OF FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH SPECIAL PURPOSE FRAMEWORKS (Effective for audits of financial statements for periods
More informationGlobal Accountancy Education Recognition Study 2012
NASBA Global Accountancy Education Recognition Study 2012 The first ever systematic and detailed comparison of existing bilateral and multilateral recognition of qualifications of accountants and auditors
More informationAction Plan Developed by. Association of Accounting Technicians of Sri Lanka (AAT Sri Lanka) BACKGROUND NOTE ON ACTION PLANS
BACKGROUND NOTE ON ACTION PLANS Action Plans are developed by IFAC members and associates to address policy matters identified through their responses to the IFAC Compliance Self-Assessment questionnaire.
More informationInvitation to Comment ENHANCING AUDIT QUALITY IN THE PUBLIC INTEREST A FOCUS ON PROFESSIONAL SKEPTICISM, QUALITY CONTROL AND GROUP AUDITS
Invitation to Comment ENHANCING AUDIT QUALITY IN THE PUBLIC INTEREST A FOCUS ON PROFESSIONAL SKEPTICISM, QUALITY CONTROL AND GROUP AUDITS 2 ENHANCING AUDIT QUALITY IN THE PUBLIC INTEREST: A FOCUS ON PROFESSIONAL
More informationAnalytical Procedures
ISA 520 March 2009 International Standard on Auditing Analytical Procedures INTERNATIONAL STANDARD ON AUDITING 520 Analytical Procedures Explanatory Foreword The Council of the Malaysian Institute of Accountants
More informationAction Plan developed by Pakistan Institute of Public Finance Accountants (PIPFA) BACKGROUND NOTE ON ACTION PLANS
BACKGROUND NOTE ON ACTION PLANS Action Plans are developed by IFAC members and associates to address policy matters identified through their responses to the IFAC Compliance Self-Assessment Questionnaires.
More informationCONTINUING PROFESSIONAL DEVELOPMENT (CPD)
CONTINUING PROFESSIONAL DEVELOPMENT (CPD) A Program of Continuing Development of Professional Competence and Lifelong Learning CONTINUING PROFESSIONAL DEVELOPMENT (CPD) Table of Contents Page # Preamble
More informationSpecial Considerations Audits of Group Financial Statements (Including the Work of Component Auditors)
HKSA 600 Issued September 2009; revised July 2010, May 2013, June 2014*, February 2015 Effective for audits of financial statements for periods beginning on or after 15 December 2009 Hong Kong Standard
More informationModifications to the Opinion in the Independent Auditor s Report
HKSA 705 Issued September 2009, revised July 2010, June 2014* Effective for audits of financial statements for periods beginning on or after 15 December 2009 Hong Kong Standard on Auditing 705 Modifications
More informationAction Plan Developed by Chartered Accountants Ireland (ICAI) BACKGROUND NOTE ON ACTION PLANS
BACKGROUND NOTE ON ACTION PLANS Action Plans are developed by IFAC members and associates to address policy matters identified through their responses to the IFAC Compliance Self- Assessment Questionnaire.
More informationInformation Paper The Roles and Domain of the Professional Accountant in Business
Information Paper The Roles and Domain of the Professional Accountant in Business Published by the Professional Accountants in Business Committee Professional Accountants in Business Committee International
More informationHow To Ensure That A Quality Control System Is Working Properly
HKSQC 1 Issued June 2009; revised July 2010, May 2013, February 2015 Effective as of 15 December 2009 Hong Kong Standard on Quality Control 1 Quality Control for Firms that Perform Audits and Reviews of
More informationHKSAE 3000 (Revised), Assurance Engagements Other than Audits or Reviews of Historical Financial Information
HKSAE 3000 Issued March 2014; revised February 2015 Hong Kong Standard on Assurance Engagements HKSAE 3000 (Revised), Assurance Engagements Other than Audits or Reviews of Historical Financial Information
More informationProposed Code of Ethical Principles for Professional Valuers
INTERNATIONAL VALUATION STANDARDS COUNCIL Second Exposure Draft Proposed Code of Ethical Principles for Professional Valuers Comments to be received by 31 August 2011 Copyright 2011 International Valuation
More informationINTERNATIONAL STANDARD ON AUDITING 620 USING THE WORK OF AN AUDITOR S EXPERT CONTENTS
INTERNATIONAL STANDARD ON AUDITING 620 USING THE WORK OF AN AUDITOR S EXPERT (Effective for audits of financial statements for periods beginning on or after December 15, 2009) CONTENTS Paragraph Introduction
More informationImplementing the International Standards for Supreme Audit Institutions (ISSAIs): Strategic considerations
Implementing the International Standards for Supreme Audit Institutions (ISSAIs): Strategic considerations This guide has been written by members of the Capacity Building Subcommittee 1 chaired by the
More informationNovember 9, 2012 494/584
Mr. Peter Wolnizer, Chair International Accounting Education Standards Board International Federation of Accountants 545 Fifth Avenue, 14 th Floor New York 10017, USA November 9, 2012 494/584 Dear Peter,
More informationAction Plan Developed by. Mauritius Institute of Professional Accountants BACKGROUND NOTE ON ACTION PLANS
BACKGROUND NOTE ON ACTION PLANS Action Plans are developed by IFAC members and associates to address policy matters identified through their responses to the IFAC Compliance Self-Assessment Questionnaires.
More informationBackground Information and Basis for Conclusions CPA Canada Handbook Accounting, Part II
2014 Improvements to Accounting Standards for Private Enterprises Background Information and Basis for Conclusions CPA Canada Handbook Accounting, Part II Foreword In October 2014, the Accounting Standards
More informationCode of Ethics for Professional Accountants
COE Revised May 2015 July 2015 Effective on 1 January 2011 (including subsequent amendments as indicated) Code of Ethics for Professional Accountants COPYRIGHT Copyright 2015 Hong Kong Institute of Certified
More informationHANDBOOK OF THE CODE OF ETHICS FOR PROFESSIONAL ACCOUNTANTS
HANDBOOK OF THE CODE OF ETHICS FOR PROFESSIONAL ACCOUNTANTS THE INSTITUTE OF CHARTERED ACCOUNTANTS OF NEPAL HANDBOOK OF THE CODE OF ETHICS FOR PROFESSIONAL ACCOUNTANTS-2010 Published : The Institute of
More information3. The new Regulations alter the means by which the LPC outcomes can be met (Regulation 17 - Course requirements).
Application made by the Solicitors Regulation Authority Board to the Legal Services Board under Part 3 of Schedule 4 of the Legal Services Act for the approval of amendments to the Training Regulations
More informationPrequalification Education, Assessment of Professional Competence and Experience Requirements of Professional Accountants
9 First Issued July 1991 Revised October 1996 Prequalification Education, Assessment of Professional Competence and Experience Requirements of Professional Accountants CONTENTS Preface Introduction...
More informationDesignation HRPA OFFICE OF THE REGISTRAR
2016 Guide to the CHRP Designation HRPA OFFICE OF THE REGISTRAR 1.0 TABLE OF CONTENTS Table of Contents... 1 AN OVERVIEW OF HRPA S CERTIFICATION PROCESS... 3 Certification and the public interest... 4
More information(Effective as of December 15, 2009) CONTENTS
INTERNATIONAL STANDARD ON QUALITY CONTROL 1 QUALITY CONTROL FOR FIRMS THAT PERFORM AUDITS AND REVIEWS OF FINANCIAL STATEMENTS, AND OTHER ASSURANCE AND RELATED SERVICES ENGAGEMENTS (Effective as of December
More informationINTERNATIONAL STANDARD ON AUDITING 260 COMMUNICATION WITH THOSE CHARGED WITH GOVERNANCE CONTENTS
INTERNATIONAL STANDARD ON AUDITING 260 COMMUNICATION WITH THOSE CHARGED WITH GOVERNANCE (Effective for audits of financial statements for periods beginning on or after December 15, 2009) CONTENTS Paragraph
More informationAccreditation of initial teacher education programs in Australia
aitsl.edu.au Accreditation of initial teacher education programs in Australia Frequently Asked Questions Standards and Procedures April 2011 1. What are the Standards and Procedures for the Accreditation
More informationIndependence Audit and Review Engagements. Independence Other Assurance Engagements
International Ethics Standards Board for Accountants Exposure Draft December 2006 Comments are requested by April 30, 2007 Section 290 of the Code of Ethics Independence Audit and Review Engagements Section
More informationGuidance for audit committees. The internal audit function
Guidance for audit committees The internal audit function March 2004 The Combined Code on Corporate Governance July 2003 C.3 Audit Committee and Auditors Main Principle: The board should establish formal
More informationQualification details
Qualification details PLEASE note that this strand to the proposed level 5 diploma will shortly be submitted for approval to develop further. What follows here is the Project Management strand with the
More informationAdvanced Higher Business Management Course Specification (C710 77)
Advanced Higher Business Management Course Specification (C710 77) Valid from August 2015 This edition: April 2015, version 2.0 This specification may be reproduced in whole or in part for educational
More informationINTERNATIONAL STANDARD ON AUDITING 705 MODIFICATIONS TO THE OPINION IN THE INDEPENDENT AUDITOR S REPORT CONTENTS
INTERNATIONAL STANDARD ON AUDITING 705 MODIFICATIONS TO THE OPINION IN THE INDEPENDENT AUDITOR S REPORT (Effective for audits of financial statements for periods beginning on or after December 15, 2009)
More informationStandards for the Professional Practice of Internal Auditing
Standards for the Professional Practice of Internal Auditing THE INSTITUTE OF INTERNAL AUDITORS 247 Maitland Avenue Altamonte Springs, Florida 32701-4201 Copyright c 2001 by The Institute of Internal Auditors,
More informationFinancial Instruments: Recognition and Measurement
International Public Sector Accounting Standards Board IPSAS 29 January 2010 Financial Instruments: Recognition and Measurement International Public Sector Accounting Standards Board International Federation
More informationInternal Control Integrated Framework. May 2013
Internal Control Integrated Framework May 2013 0 Table of Contents COSO & Project Overview Internal Control-Integrated Framework Illustrative Documents Illustrative Tools for Assessing Effectiveness of
More informationLEVEL 3 LEGAL SERVICES APPRENTICE QUALIFICATIONS FACTSHEET
LEVEL 3 LEGAL SERVICES APPRENTICE QUALIFICATIONS FACTSHEET WHAT ARE THE CILEx LEVEL 3 LEGAL SERVICES APPRENTICE QUALIFICATIONS? What is an Apprenticeship? Apprenticeships are a combination of on-the-job
More informationHKSA 500 Issued July 2009; revised July 2010, May 2013, February 2015
HKSA 500 Issued July 2009; revised July 2010, May 2013, February 2015 Effective for audits of financial statements for periods beginning on or after 15 December 2009 Hong Kong Standard on Auditing 500
More informationTECHNICAL RELEASE TECH 09/14BL ACCOUNTANTS REPORTS ON COMMERCIAL PROPERTY SERVICE CHARGE ACCOUNTS
TECHNICAL RELEASE TECH 09/14BL ACCOUNTANTS REPORTS ON COMMERCIAL PROPERTY SERVICE CHARGE ACCOUNTS ABOUT ICAEW ICAEW is a professional membership organisation, supporting over 140,000 chartered accountants
More informationICAEW TECHNICAL RELEASE GUIDANCE ON FINANCIAL POSITION AND PROSPECTS PROCEDURES
TECHNICAL RELEASE ICAEW TECHNICAL RELEASE TECH 01/13CFF GUIDANCE ON FINANCIAL POSITION AND PROSPECTS PROCEDURES ABOUT ICAEW ICAEW is a professional membership organisation, supporting over 140,000 chartered
More informationof Education (NAECS/SDE).
NAEYC & NAECS/SDE position statement 1 POSITION STATEMENT Early Childhood Curriculum, Assessment, and Program Evaluation Building an Effective, Accountable System in Programs for Children Birth through
More informationINTERNATIONAL STANDARD ON AUDITING 710 COMPARATIVE INFORMATION CORRESPONDING FIGURES AND COMPARATIVE FINANCIAL STATEMENTS CONTENTS
INTERNATIONAL STANDARD ON 710 COMPARATIVE INFORMATION CORRESPONDING FIGURES AND COMPARATIVE FINANCIAL STATEMENTS (Effective for audits of financial statements for periods beginning on or after December
More informationAuditing Standard ASA 600 Special Considerations Audits of a Group Financial Report (Including the Work of Component Auditors)
ASA 600 (October 2009) Auditing Standard ASA 600 Special Considerations Audits of a Group Financial Report (Including the Work of Component Auditors) Issued by the Auditing and Assurance Standards Board
More informationINTERNATIONAL STANDARD ON AUDITING 700 FORMING AN OPINION AND REPORTING ON FINANCIAL STATEMENTS CONTENTS
INTERNATIONAL STANDARD ON 700 FORMING AN OPINION AND REPORTING ON FINANCIAL STATEMENTS (Effective for audits of financial statements for periods beginning on or after December 15, 2009) CONTENTS Paragraph
More information